Monday morning headlines

Stocks up sharply: More positive economic news and Chrysler might be out of bankruptcy as early as today. Dow is over 8600 at last check. (AP)

Chase Carey moving up?: The CEO of DirecTV is in advanced talks to become second in command at News Corp., replacing Peter Chernin. Carey would be the company's vice-chairman, based in NY. From the Wrap:

News Corp initially said it would not be replacing Chernin, and [Rupert] Murdoch reshuffled the management structure to give more responsibility to his current executives, including expanding the oversight of Twentieth Century Fox film executives Tom Rothman and Jim Gianopulos, promoting Peter Rice to run entertainment at Fox Broadcasting under Tony Vincequerra, and bringing on Jon Miller to run Fox Interactive. But people familiar with Murdoch's thinking said that he did not originally think he could convince Carey to leave DirecTV, where he is CEO, to take a lesser position at News Corp.

E3 opens in L.A.: The annual videogame extravaganza is expected to attract 40,000 people to the convention center this week. Lots of gaming hardware and titles on tap - Microsoft, Sony and Nintendo will all be launching new stuff. (SF Chronicle)

FBI looking into Ezri Namvar: The bankrupt Brentwood businessman has been accused by investors of running a Ponzi scheme. The feds seem especially interested in Namco Financial Exchange Corp., which is named in several lawsuits. (Business Journal)

Emulex battling back: The OC networking company goes to court as it challenges a $764 million hostile takeover bid from Broadcom Corp. Emulex claims that Broadcom hasn't fully disclosed details of widely publicized drug-related and stock-option-backdating charges. From the WSJ:

The Emulex lawsuit focuses on Broadcom's past woes, rehashing allegations of option-backdating and drug-related charges against former Broadcom Chief Executive Henry T. Nicholas III and accusing the company of failing to disclose that Mr. Nicholas still holds considerable sway at Broadcom.

Freedom CEO goes to Playboy? Scott Flanders, head of the OC Register's parent company, is expected to become CEO of Playboy Enterprises. There is still a lot of talk about the company being on the block. (WSJ)

Live Nation discounts: Every Wednesday this summer, the Bev Hills-based concert promoter is scrapping fees for amphitheater lawn seats. Fans will save $9 to $12 on a ticket that typically costs $20 to $25. Artists covered by the promotion include Aerosmith, Coldplay and Phish. (AP)

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
Previous story: GM, Citi out of DJIA

Next story: GM's L.A. problem

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook